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Overview and Scope

A financial application is a software designed to automate, assist, and store personal or company financial information. It is responsible for storing, analyzing, managing, and processing a collection of financial transactions, records, and procedures.

Sizing and Forecast

The financial app market size has grown rapidly in recent years. It will grow from $1.33 billion in 2023 to $1.5 billion in 2024 at a compound annual growth rate (CAGR) of 12.6%.  The  growth in the historic period can be attributed to digital transformation in banking, security and trust improvements, convenience and accessibility, regulatory changes, market competition and innovation.

The financial app market size is expected to see rapid growth in the next few years. It will grow to $2.38 billion in 2028 at a compound annual growth rate (CAGR) of 12.3%.  The growth in the forecast period can be attributed to focus on financial wellness, rise of embedded finance, enhanced cybersecurity measures, expansion of cryptocurrency integration, ai and machine learning integration.. Major trends in the forecast period include green and sustainable finance solutions, evolving ux/ui designs, expansion of peer-to-peer (p2p) payments, open banking initiatives, robo-advisors and automated investing.

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https://www.thebusinessresearchcompany.com/report/financial-app-global-market-report

Segmentation & Regional Insights

The financial app market covered in this report is segmented –

1) By Type: Banking, Stock Trading, Digital Wallets, Payment System

2) By Service: Consulting Services, Operations And Maintenance, Training And Support Services, Integration Services

3) By Deployment: On-Premise, Cloud

4) By Application: Tracking Expenses, Investments, Budgeting, Payment App

Asia-Pacific was the largest region in the financial app market in 2023. The regions covered in the financial app market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

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Major Driver Impacting Market Growth

Growing digitalization in many industries is expected to propel the growth of the financial app market going forward. Digitalization refers to turning paper documents or other materials into digital ones. A business model is being more thoroughly transformed to use digital processes instead of analogue ones. Due to advancements in mobile and digital technologies, as well as the ease with which people can now invest and borrow money, the financial services sector has seen a significant transformation in recent years. The technology also makes it simpler for institutions to manage their operations and transactions. Thus, growing digitalization is helping the financial app market flourish in organizations. For instance, in November 2022, according to a report shared by Zippia, a US-based internet and web services startup, 70% of businesses either already had a digital transformation strategy in place or were developing one. In 2021, the global expense of digital transformation was $1.5 trillion. By 2023, it is anticipated that global spending on digital transformation will reach $6.8 trillion. In 2021, 56% of businesses was prioritizing digital transformation worldwide. Therefore, growing digitalization in various industries is driving the growth of the financial app market.

Key Industry Players

Major companies operating in the financial app market report are Intuit Inc., Personal Capital Corporation, Appello Inc., Arateg LLC, Emizen Tech Pvt. Ltd., NIX United Inc., Shakuro Inc., Arka Softwares Inc., Peerbits Technologies Pvt. Ltd., Endive Software LLC, Diceus Inc., Sidebench Studios LLC, Mint Inc., You Need a Budget LLC, Prism Software, Spendee ApS, Goodbudget, Venmo Inc., Wally Inc., Acorns Grow Inc., Revolut Ltd., Moneydance LLC, Banktree Inc., Google Finance, Money Dashboard Ltd., Bankin’, Toshl Inc., Quicken Inc., Yahoo Finance, YNAB Labs LLC

The financial app market report table of contents includes:

1. Executive Summary

2. Financial App Market Characteristics

3. Financial App Market Trends And Strategies

4. Financial App Market – Macro Economic Scenario

5. Global Financial App Market Size and Growth

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26. South America Financial App Market

27. Brazil Financial App Market

28. Middle East Financial App Market

29. Africa Financial App Market

30. Financial App Market Competitive Landscape And Company Profiles

Top Major Players:

  • Intuit Inc
  • Personal Capital Corporation
  • Appello Inc
  • Arateg LLC
  • Emizen Tech Pvt. Ltd

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